Silicon Valley Clean Energy
Audit Committee Meeting
Wednesday, August 31, 2022
10:00 a.m.
Pursuant to State of California Gov’t Code Section 54953 (e) the meeting was conducted via teleconference.
MEETING MINUTES
Call to Order
Chair Mekechuk called the meeting to order at 10:14 a.m.
Roll Call
Present:
Chair Bryan Mekechuk, City of Monte Sereno
Vice Chair Margaret Abe-Koga, City of Mountain View
Alternate Director Sergio Lopez, City of Campbell
Absent:
Committee member Vickie Rahman, City of Gilroy
All present attendees participated via teleconference.
Public Comment on Matters Not Listed on the Agenda
No speakers.
Consent Calendar
MOTION: Vice Chair Abe-Koga moved and Alternate Director Lopez seconded the motion to approve the Consent Calendar.
Chair Mekechuk opened public comment.
No speakers.
Chair Mekechuk closed public comment.
The motion carried unanimously by verbal roll call vote with Committee member Rahman absent. 1) Approve Minutes of the March 3, 2022, Audit Committee Meeting Regular Calendar
2) Receive Update on Financial Auditor Request for Proposal Process and Recommend the SVCE Board of Directors Select Recommended Audit Firm (Action) Kevin Armstrong, Deputy Director of Administrative Services, presented a PowerPoint presentation on the Financial Audit request for proposals (RFP) process and a request for the Audit Committee to recommend to the Board of Directors the selection of Pisenti & Brinker, LLP as the financial auditor for SVCE.
Deputy Director of Administrative Services Armstrong provided information on SVCE’s accounting policy, history of previous audits, an overview of the June 2022 RFP process which included proposals received from four firms, evaluation standards in the selection process and identification of the two shortlisted firms, and staff’s recommendation of the selection of Pisenti & Brinker, LLP. The next steps identified included: presenting an agreement to the Board of Directors at the September 14, 2022 Board of Directors meeting on the consent calendar for an agreement for an initial one-year term, with the option to extend for additional years upon completion of successful engagement; scheduling an Audit Committee kick-off meeting in late September; and after the close of SVCE’s year-end financial processes, commencement of audit work in October 2022.
Deputy Director of Administrative Services responded to committee member questions including how the RFP was solicited, fees and scope of the audit which included the American Institute of Certified Public Accountants (AICPA) and single uniform code audit, and general information on the new lead partner within Pisenti & Brinker, LLP.
The committee provided supportive comments on the selection of Pisenti & Brinker, LLP.
Chair Mekechuk opened public comment.
No speakers.
Chair Mekechuk closed public comment.
MOTION: Vice Chair Abe-Koga moved and Alternate Director Lopez seconded the motion to recommend the SVCE Board of Directors approve an agreement with Pisenti & Brinker, LLP to audit SVCE’s financial statements for fiscal year 2021-22, with an option to extend for additional years.
The motion carried unanimously with Committee member Rahman absent. 3) Receive Update on IT Audit and Security Assessments (Discussion) Deputy Director of Administrative Services Armstrong presented a PowerPoint presentation on SVCE’s IT Audit and security assessment updates. The presentation included an overview of SVCE’s cyber security philosophy, the four technology audits/assessments (Information Technology Audit, Security Assessment, Advanced Metering Infrastructure Audit, and Advanced Metering Infrastructure Annual Data Privacy Report), progress from the 2021-22 cybersecurity audit, current efforts to engage with a Virtual Chief Information Security Officer (VCISO) and development of an upgraded cybersecurity score card.
Committee members thanked staff for their work and proactive approach to cybersecurity.
Chair Mekechuk opened public comment.
No speakers.
Chair Mekechuk closed public comment.
CEO Girish Balachandran commented on staff’s focus on cybersecurity, and the importance of efforts from all staff.
Committee/Staff Remarks
Chair Mekechuk complimented staff on the content of the meeting.
CEO Balachandran commented there was consideration of combining the Audit Committee and Finance and Administration Committee and noted staff would discuss with Chair Mekechuk. Chair Mekechuk provided brief initial comments and noted the desire for allowing Audit Committee members to speak with the auditing firm in a more one-on-one setting. Further, Chair Mekechuk opined that the Audit Committee should be independent.
Deputy Director of Administrative Services noted Board Clerk Andrea Pizano would be reaching out to committee members for availability to convene in September.
Adjournment
Chair Mekechuk adjourned the meeting at 10:51 a.m.
ATTEST:
_____________________________
Andrea Pizano, Board Secretary